The Application of English Law Regulations (in this
section, the ‘’Regulations’’) provide for the application of
English common law and certain English statutes in the Abu Dhabi Global Market, however, these...more

The Restructuring Mid-Summer Review: Europe and the Emerging Markets -
For those focused on the debt restructuring market, the Greek sovereign crisis (covered extensively in our recent updates1) has drowned out news of...more

RMBS Suit Against WMC Mortgage LLC Dismissed as Time-Barred -
On July 10, 2015, Judge Alvin Hellerstein of the Southern District of New York granted defendant WMC Mortgage LLC's motion for judgment on the pleadings in an...more

Non-U.S. banks with branches in New York and elsewhere in the United States find themselves sued or otherwise exposed to judicial orders in American courts with regularity. The cases reflect the full range of U.S. legal...more

The UK is to introduce a new means of resolving high value or complex financial disputes, to be known as the Financial List. This will be a specialist list for the following types of claims:
- Financial claims of £50...more

First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act -
On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District Court...more

In the matter of DTEK Finance B.V. [2015] EWHC 1164 (Ch), 28 April 2015, a change in the governing law of loan notes from New York law to English law was sufficient to found jurisdiction for the English court to sanction a...more

On June 29, 2015, Justice Eileen Bransten of New York Supreme Court granted Goldman Sachs Group Inc.’s (“Goldman”) motion to dismiss a cause of action for negligent misrepresentation but denied Goldman’s motion to dismiss...more

We consider here the judgment of the High Court (Commercial Court) in Mellat v HM Treasury [2015] EWHC 1258 (Comm) (6 May 2015). The judgment relates to three preliminary issues of law in a claim by an Iranian bank, Bank...more

EBA Updates Single Rulebook Q&As: June 26, 2015 -
On June 26, 2015, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing eight new questions.
The single rulebook Q&As relate...more

In response to the turbulent economic times seen of late, there has been a significant growth in the use of schemes of arrangement to compromise creditors’ claims where the company in question is facing financial...more

The implementation of the European Bank Recovery and Resolution Directive (BRRD) is currently ongoing in all EU member states, and is at different stages of the respective legislative process. In order to keep track of the...more

Insolvency like international law can lend itself to aggressive protectionism as parties or countries try to preserve their own interests, like medieval lords surrounded their castles with moats and towering walls to fend off...more

In this article, we will discuss some of the tools available to a party in the British Virgin Islands (BVI) to seek to recover property, or proceeds of property, which have been misappropriated. It is not surprising that in...more

One consequence of this move was that loans granted by local banks to local customers in foreign currency became more expensive, because the Azerbaijani Manat was weakened by 25 percent. This raised a question of whether...more

More and more, U.S. taxpayers are becoming aware of their federal tax reporting obligation for foreign financial accounts, interests and assets. With increased IRS enforcement, broader media coverage of international tax...more

European Commission Requests 11 Member States to Implement Bank Recovery and Resolution Directive (BRRD) -
On May 28, 2015, the European Commission published a press release announcing that it has requested 11 member...more

The judgment on the claim brought by Mercuria Energy Trading Pte Ltd and Mercuria Energy Group Ltd (Mercuria) against Citibank NA and Citigroup Capital Markets Ltd (Citi), has now been published by the English Commercial...more

On May 14, the District Court for the Southern District of New York denied class certification status in a fair lending suit brought by the ACLU and NCLC against a global investment bank. Adkins v. Morgan Stanley, No....more

In this case report, we consider the High Court’s judgment in European Securities and Markets Authority v DTCC Derivatives Repository Limited [2015] EWHC 1085 (Ch), in which the High Court clarified the process that the...more

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